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tv   Lou Dobbs Tonight  FOX Business  February 26, 2014 7:00pm-8:01pm EST

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♪ double mocha. lou: good evening, everyone. russian president vladimir putin putting his military on high alert, ordering up to 150,000 russian troops stationed along the ukrainian border into a russia calls battle ready drills. consisting of 41 warships, two submarines, 10 guided missile ships. several anti-submarine warfare votes. the defense minister claimed the movement of those russian forces
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is purely coincidence. insisting that the military movement and wargames were prescheduled. and obama responding. secretary of state john kerry warned russia that any military action in the ukraine would be a grave mistake. >> russia needs to be careful in the judgments that it makes going forward here. we are not looking for confrontation. but we are making it clear that every country should respect the territorial integrity here. the sovereignty of the ukraine, russia has said it will do that. and we think it's important that russia keeps its word. lou: the russian counterpart fireback. warning the west and in sourcing decisions upon the ukrainian government. >> t is dangerous and counterproductive to try to force upon the ukraine the
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choice that you are with us or against us. it has to be part of a global european family that is meaningful of the term. lou: the permian pill in slow region the opposing groups, and some cases people getting killed. two people were killed in the demonstrations and riots in more than 30 hospitalized. drawing the ukraine back into the russian sphere. and it's not likely going to allow this to go without a fight. joining s is lieutenant colonel bill collins. it's good to have you with us. and as we were watching this unfold, we have secretary of
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state john kerry making what i consider to be an unexpectedly severe and stern warning that i am not certain that he can back out. what is your reaction first, if we may. >> for some it's great to be with you. i appreciate being invited. i think that president vladimir putin has laughed off whatever secretary john kerry had to say. i don't think the russians think for one minute that this administration is going to do anything at all if they make a move on the ukraine. having said that, i think that vladimir putin is a smart guy. he's not going to do anything in the short term it really damages his standing. he's riding the crest of a wave right now. there were no incidents. he is really the guy who is moving forward with their nuclear weapons and everything is on his ride right now. and i don't think that he wants to damage that by using oars at this time, but he is an old kgb
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operative and that i will take whatever time it takes in my judgment re-create what happened in georgia when back in 2000 a russian troops went into two of the provinces because russians and their, at the russians were being threatened. lou: so setting the stage for precisely that with his words. i thought, frankly, his use of the expression of the global community, talking about the ukraine membership therein of the european community as if russia is the head of that particular table. an artful language and tone and president vladimir putin artfully has not said a word even as president obama in the white house secretary kerry are making some bellicose statements
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that again, i am not certain that this president is prepared to act up. >> i don't think we can back any of it up at all. i think that there is no military situation under which we would probably use force. the vladimir putin doesn't want to damage the reputation and standing that he has by introducing those forces. there's nothing wrong with having 150,000 troops on the border as a demonstration of force and a reminder to those in the ukraine who are paying attention, that in the past he has used force one he felt necessary. unfortunately over the long term we will see them divided into two distinct countries and regions and one of them being part of this and they are not going to let that go way. the rest of the area that is down there, 60% or more. and then we will see the other attributes and all the people who are demonstrating to get the president out towards the eu.
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lou: your son is serving a fifth tour in afghanistan. general martin ddmpsey they're making some exceptional remarks today talking about the importance of u.s. forces even as his commander in chief. think they're ready for this. is it not? >> yes, it is. i feel for all of those men and women over there that are still engaged in a fight and are living in this edge of uncertainty particularly with the possibility of afghan forces siding with the taliban and turning on her people. these are difficult things to be named. difficult for the troops to be hearing this. i think hearing this. i could think at the end of the day there is a lot of talk in washington about when the new president gets to afghanistan we will be able to work status reports and an agreement and
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keep our security arrangement going. i'm not sure that is what the white house wants. the president really wants to get all of our people out of afghanistan and i think that we are going to pay the penalty in the long run. lou: we thank you for being with us. tensions flaring in the ukraine. president obama focusing on domestic politics and his agenda. the president going to a restored train depot in minnesota to ask congress for $300 billion to update the nation's highways and bridges and rail systems and to make his case, well, he upped his 800 billion-dollar stimulus practice. >> it was renovated and expanded with the help of what we call competitive grants that we created as part of the recovery
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act. also known as the stimulus which actually works. >> incredible. still campaigning for an approval on the stimulus package and we are still waiting for that 5% unemployment rate that obama promised along with the stimulus in the past. and a new report shows the atf agents have lost track of guns over the past five years and apparently some leaving them in bathroom stalls, on top of cars, and engaged in a six-hour standoff outside an apartment complex that ended when they learned no one had been at home. we are coming right back. the tax man and ways and means
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committee chairman dave camp. congressman mike turner joins us next. ceo and chairman richard smith joins us tonight. mine was earned in korea in 1953. afghanistan, in 209. orbiting the moon in 1971. [ male anuncer ] once it's earned, us auto insurance is often handed down from generation generaton. because it offers a superior evel of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to see. coach calls her a team player. she's ind of special.
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which will cause me to miss the end of the game.
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retailer and its data breach, costing 61 million and could extend also. and carl ichan being blamed for dysfunctional leadership in a new letter to shareholders. has he overstepped? some would say perhaps yes. we will find out. be sure to listen to my financial reports the three times a day on the aol radio network for all of the biggest market and business news. chairman dave camp revealing his proposal that the republican leadership is trying to downplay and distance themselves from that plan. congressman mike turner is a member of the house oversight and armed services committee. as indiscreet have you with us. when we start with tax reforms.
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>> he has worked very diligently to put this together. we need to make sure that we have a competitive tax code. lou: you guys really want to be on record with this important midterm election, calling for the deductibility and deductibles and i mean this is toxic stuff but he has put out there.
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>> everyone knows that it is exactly as he has said and that requires a debate that will have to go across the country. everyone knows that we need tax reform and that certainly is his way to start the debate. >> i think i might agree with you more if i would've had the experience of lower taxes as well as disappointing jobs growth. >> regardless of your opinion, our tax code is abysmal and we need to start having a debate. lou: you've done not for five
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years. the administration has no proposal. lou: i have as much hesitation with the use of the word reform. lou: let me talk about the debate and the discussion. does the republican party really want to eliminate deductibility on mortgage interest to
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illuminate this on state and local income taxes which will affect all folks out there paying tax is common not just higher income earnings? and this is a time that we need to be cutting. >> you can't have a proposal and i do think it is. i believe you believe that. but we have to have this discussion. lou: i appreciate your issue, but it's part of this and if you persist in this, you're going to blow a good opportunity come november. that is just one journalist's
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opinion. >> this is an important debate. i think that there are lots of issues that are important. let's start wwth the debt. let's start with the incredible deficit and the size of government. >> we have a tax problem and a spending problem. and it basically came to a grounding all. lou: what are you going to do about lois lerner? dirty have the attorney general in contempt. what are you going to do a former senior irs official?
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he's basically told you guys to buzz off. i have a bill, hr 1950 that criminalizes this action. lou: retroactively? >> the question is what are you going to do about lois lerner who has told you guys to buzz off. >> we are going to make certain that there are two aspects of the story are told. hold people accountable and find out who did this. and you move forward with the legislation that holds people accountable if it haapens again.
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and i think the american people are shocked at what has occurred at the irs that the administration is doing nothing and we are going to work diligently to hold these people accountable to make sure this doesn't happen again. lou: no one is a bbgger fan of darrell issa than i am. and i think you know that. you and your committee have done brilliant work. i do think that you run the risk again of being rendered impotent if you hadn't gotten an approach here with lois lerner and we will pass some legislation later. and at some point it seems to me to have a strategy that is effective in exerting its well or quit looking badly.
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>> in order to do an investigation you have to make certain that you are continuing at your getting all of the information. but it's not is happening within your news cycle. there are other people that were involved. lou: are you suggesting that it has ran out of sync? >> we knew that there had been a much larger involvement on the irs making certain that we find out who these people are. and we are tracking this down holding these people accountable. both investigative and enforcement agency, is wrong and we are going to continue to work on. lou: that's great if you continue that investigation. what are you going to do about it? a witness that you had subpoenaed and telling you to buzz off area.
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>> i think you guys have heard from him before. as you know. we are continuing with the investigation to find out what other information we have. this was orchestrated and ways to compel the testimony. see what. lou: she is seeking immunity. would you entertain that idea where maxima gasoline on. she's violating the constitutional rights and i don't think anyone should receive immunity was part of that scheme to tell the story of how we did it. we will find the people and hold them accountable and whether this president likes it or not. lou: i couldn't agree with yoo more. the question is at what point is there a result. at what point is there a productive and constructive result that is in the interest
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of those values and the constitution. >> you can't just quit. you can't just say that we have the answer yet. the administration has not been cooperating. we have been subpoenaing the irs and working on this process and people who testified were getting to the bottom of this. because the president knows that they might quit. lou: one last question. i wanted to talk about what are you going to do about the budget cuts for the military? >> this is something that is really disturbing. i oppose sequestration. part of the cuts are part of the tenure program. the dod looks out for the uncertainty of the president to be sequestered and they're looking how to take these cuts in spending drops.
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and this is an area that goes right to the heart of our nationals. and we will not only have a week and natural security but a military that would not be capable to withstand to our adversary. lou: we agree that the cuts are draconian and absolute disaster for the national security. tonight we a right now. as you know every year for the military to unction we have two have authorization bills and the funding bills. those are the bills that we are working on right now. we will work through it and are things that need to be reduction and we will take a look at those also congressman mike turner.
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they do so much. up next, home sales rising, prices posted their biggest gains. president and ceo richard smith president and ceo richard smith is coming up next. in the new new york, we don back down. president and ceo richard smith is coming up next. we only know one direction: up so we'reup late.y.
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>> hall sales up almost 10 percent the highest since 2008 following disappointing reports recently played being mostly on cold weather here with the outlook is richard smith the chairman and ceo the parent company of coldwell banker and a century 21. great to have you with us. congratulations on your results. impressive and housing right now people are confused with the mixed signals. what is your outlook?
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>> the housing recession retracted and we will not recover in a few years. but it will be a long recovery process. the example is the number today. nobody would have predicted that in fact, there would have predicted the opposite. background in economics, environment, whet her the magistrates contributing to a lower forecast. it caught everyone off guard to% year over year on new home sales. existing homes is a different category. we had a great year. i appreciate the recognition. we are prepared for the continuation.
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the existing home sales we only give drivers for the first quarter every subsequent quarter we don't live for the year. but based what we have seen how sales will be down in the range of three through 5%. there is a reason. the price will be up 13 or 15% on existing home sales. either bright or wrong sales volume growth, the price is reacting to a the strong demand. manhattan has literally one month to drive prices. southern california we have weeks. the absence of the inventory is the single greatest concern as to the trend line for the recovery.
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lou: with the discussion document, i am absolutely buffaloed as to why the republicans would proceed with this document. start out with 10 percent surcharge for high-income earners? your initial reaction? >> i applaud the intent. i think the timing is poor. i certainly would not take a position like this before the midterm soar the presidential election. but in the midst of a housing recovery you should not have a discussion that is not conditional to housing or policy. for decades this is in the
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economy's best interest to have a discussion about falling back at a time. lou: bubbles of deductibility i find is to define. >> the effect is four years and to throw away brand equity it is punitive to the high income markets with the entire east coast if you take away that deductibility of local real-estate taxes that has a very damaging impact. >> we do know that both parties listen so there is some good judgment. we appreciate it. richard smith. of northern california couple strike gold letter of the finding $10 billion
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period -- buried in their property. the story when we come back. >> the democratic mid term strategy played republicans for the war on women. we will talk with their favorite talk-show host about that idea is. and my commentary about the tax reform plan. straight ahead. ♪ we asked people a question, how much money do u ink you'll need when you retire? 0,000. maybe half-million. say a million dolla. [ dan ] then we gaveach person a ribbon to show how ma years that amount might last. ♪ i was trying to like pl it a littlfurther. you know, i was trying to stretch it a ltle bit more. [ woman ] got me to 70 years old. i'm going to have to rethink this thing.
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lou: we have 89. the "a team" think you for beinh us.
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the democrats' big strategy is to talk about something %-women?he republican war on >> if it's said winning concept but bad presaging. it could be turned into political propaganda because nobody knows what that means. they target women because we vote consistently looked at november 2012 even virginia was evident. they are better to stick to policy issues like minimum wage that does adversely affect women at a greater bubble. -- jedi bigger level so stick to those. lou: do you agree? >> it did work the democrats raised awareness with this messaging but now women are on to that now to expand
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that messaging beyond birth control and abortion but economic issues, a minimum-wage. i don't think it will work but they have such an advantage with women that perhaps they don't even need the messaging. but the republicans to counter it needs real economic growth targeted to women which they have none. lou: what are you doing about women? with the two-party and the conservatives? >> and i cannot even talk about this. i should just let the women talk. what monica talk with policies and they are affected by energy policy, the board room, at home. also republicans don't worry
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about the life of julia. brendon can make up their own mind. we have to approach them on policy and things that matter but that resonates with more than just the war on blended. i am done with that personally i am pro woman and pro america. i will leave it at that. >>. [laughter] that was cute. thank you. lou: we saw the white flag surrender. [laughter] >> i know when i am outnumbered. [laughter] lou: maybe the democrats have something. outcomes the chairman of the ways and means committee to release what congressman turner pointed to have a document to raise taxes to
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be disruptive for the republican interest. what are your thoughts? >> i don't like it. i think we are all on a slow and steady -- steady slide that is delicate that pushes the envelope. there should be penalties clubs but this document goes a little too far and we need to be more concerned about the housing recovery to keep us on pace. >> we do need tax reform that the tax code does need a huge overall even john baker said it it will not happen he incorporated what
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obama budget with that trippers -- 10 percent surcharge exchange for lowering the marginal tax rates just llord them across the board or the of corporate tax rate to cut capital gains to have any type of job creation. you will not get that tax overhaul otherwise. lou: what are we looking at with secretary of state telling the russians to be aware of the consequences if they move the military? what is your reaction? >> it is just bluster. what do they affect when it comes to the ukraine? to surrender our way? so reducing the military
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talking about pulling back anything of peace through strength or to prevent war. lou: thank you for being with us. searching for direction but will that be? find out next hour chief market strategist and his forecast coming up and my commentary on the tax plan. ctil- ctil- it could be a question of blood flow. cialis tadalafil for daily use helps you b's right. you can be more nfident in your ability to be ready. and the same cialis is the only daily ed blet approved to treat ed and sytoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditionsnd medicatio, and ask if youheart is healthy enough for sexual activity. do not take cialis if you take nitrates for est pain,
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lou: stocks racing -- erasing earlier gains my next guest says he expects this year to be a validation your. we have our chief market strategist for wrestle investments. this is a peculiar market.
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what do you think is in store for the equities markets? >> of high sinnle-digit its as you mentioned the validation means the economic growth in the revenue growth have to be sufficiently good to justify the run visa of last year. lou: preach earnings of the last quarter. can rematch that again? >> the earnings will probably come when analysts will look at and investment managers is revenue. there is a lot of ways that there is not a lot of wiggle room so to have pricing power is a challenging environment. we think we will do better.
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lou: i am watching stocks like tesla with a billion and a half dollar offering and i am thinking that is pretty pricey stuff but what do you think as the lead interpreted as a broth? >> you pay for what you get. you lot give the housing profit when you buy not when you sell. look at the united states that is the fairly valued market. evidence it is cheap but it is neutral so there is not a lot of value. looking at global equities equities, the different sectors of the market. lou: technology excluding. >> yes as a sector we're under way to technology
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evaluations matter so we want to make sure we get our money's worth. i hate to look at netflix stock i have had so many opportunities over the years not issues roaring. talk evaluations end we are watching $19 billion from sukkur bird. [laughter] and i aa trying to find of metric you can say mark zuckerberg says it is so he is right here we go so we are in some strange places with the evaluations and multiples, revenue, users. >> we know the long-term driver of the value is earnings outlook to be doing well. but look at a low inflationary environment we have the accommodative chair
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who will keee interest rates low for a long time. if we know the of the reserve and theebank of japan will squeeze the yields and investors need to look elsewhere. with that multifaceted space we can get the return. lou: over 30 days we can get conventional wisdom that a correction was at hand to no celebrating a global recovery. that's his dexterity. >> the markets can change. lou: they got their right? to make their bilbies some volatility -- there were will be some. there is not a significant correction and that is strange. get the shopping list ready
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to know what to buy. lou: we just received a breaking news jan brewer has just announced she has vetoed a controversial bill to allow arizona business owners to refuse service to gay people she has vetoed that legislation. up text where republican leadership should run away from♪ and the discussion. see wht iwe don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing idea like this: dozens of tax free zones across new york state.
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lou: time for a few of my thoughts on the path to hell that is always paved with good intentions is specially
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in washington. chairman dave camp has good intentions with the desire to do big things. he unveiled his tax reform proposal as a chairman of the house weens and means committee taxing 10% surcharge on the high income ward -- orders but the leader seemed eager to take on the issue is especially when it means effectively raising taxes and not just on high earners. >> the truth is we should have tackled tax reform years ago. it would be very difficult as we are blocked from the republicans on virtually everything. >> i have no hope for that this year. lou: john boehner said if -his is the proposal of the republican party and. >> you are getting a little
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ahead of yourself. the chairman will outline a discussion to start the discussion. lou: it seems that camp who may be way ahead of himself in no small measure because it raises taxes whether effectively or three elimination of deductions or surcharges. it contains something for almost everyone including 10 percent surcharge on high income earners making over $400,000 per year. also to cut deductions on mortgage interest also tax-free income on the sale of a whole or deductions for state and local income taxes id eliminate personal exemptions. he may have forgotten this is an important election year for the g.o.p.. his colleagues and a leadership have not. at the least should
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overweight for the g.o.p. senate to indulge those big ideas or perhaps until the arrival of a republican president. here are a few of your thoughts tonight. that was a wonderful thought. thank you. we you're giving away copies of "upheaval" to the authors of the comments read riggt here every night. e-mail
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follow us on twitter or to the facebook page. that is set for us. thank you for being with us. believe will see you tomorrow night. good night for the back from new york. [ male announcer ] who are we?
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neil: welcome, everybody. i neil cavuto. do you ever hear something that sticks with u? it was a comment la sunday for me. >> since president has been in office we have reached the point where cutting the annual deficit in half to reduce the overallebt of united states by $trillion over the next 10 years. neil: i heard that it stu with me immediately said he justo an allied made ising the debt is coming down it will shrk


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